Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Short Interest Down 5.8% in November

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) was the recipient of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 4,680,000 shares, a drop of 5.8% from the October 31st total of 4,970,000 shares. Based on an average trading volume of 1,650,000 shares, the days-to-cover ratio is currently 2.8 days.

Fulcrum Therapeutics Price Performance

Fulcrum Therapeutics stock traded up $0.03 during trading hours on Monday, reaching $3.88. The company had a trading volume of 500,716 shares, compared to its average volume of 986,255. The company has a 50-day moving average price of $3.44 and a 200 day moving average price of $6.17. The firm has a market cap of $209.29 million, a price-to-earnings ratio of -12.52 and a beta of 2.24. Fulcrum Therapeutics has a 12-month low of $2.86 and a 12-month high of $13.70.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FULC shares. Stifel Nicolaus downgraded Fulcrum Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the company from $22.00 to $3.00 in a research report on Thursday, September 12th. Leerink Partnrs cut Fulcrum Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 12th. Bank of America cut Fulcrum Therapeutics from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $10.00 to $2.00 in a report on Thursday, September 12th. Cantor Fitzgerald cut Fulcrum Therapeutics from an “overweight” rating to a “neutral” rating in a report on Thursday, September 12th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $4.00 price objective on shares of Fulcrum Therapeutics in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fulcrum Therapeutics currently has an average rating of “Hold” and an average price target of $9.33.

Hedge Funds Weigh In On Fulcrum Therapeutics

A number of large investors have recently bought and sold shares of the stock. National Bank of Canada FI increased its stake in shares of Fulcrum Therapeutics by 869.6% during the second quarter. National Bank of Canada FI now owns 4,460 shares of the company’s stock valued at $28,000 after buying an additional 4,000 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Fulcrum Therapeutics by 64.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 12,002 shares of the company’s stock valued at $43,000 after buying an additional 4,701 shares during the period. Walleye Capital LLC purchased a new position in shares of Fulcrum Therapeutics during the third quarter valued at approximately $59,000. Intech Investment Management LLC purchased a new position in shares of Fulcrum Therapeutics during the third quarter valued at approximately $62,000. Finally, Profund Advisors LLC purchased a new position in shares of Fulcrum Therapeutics during the second quarter valued at approximately $68,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

About Fulcrum Therapeutics

Fulcrum Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing products for improving the lives of patients with genetically defined diseases in the areas of high unmet medical need in the United States. Its product candidates are losmapimod, a small molecule for the treatment of facioscapulohumeral muscular dystrophy is under phase III clinical trial; and pociredir, a fetal hemoglobin inducer for the treatment of sickle cell disease and beta-thalassemia is under phase I clinical trial.